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2016 (2) TMI 802
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....nal was correct in law in holding that the assessee is entitled for registration under section 12A of the Act, even when the objects of KSRTC will fall under the limb "any other object of General Public Utility" under section 2(15) of the IT Act and the activities of BMTC under this limb will be hit by the proviso to section 2(15) of IT Act amended w.e.f. 1.4.2009 as the transport services are provided to all sections of the society on commercial basis like any other private transporter and generating such huge surplus year after year and is running its activities on commercial basis? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the assessee is entitled for registra....
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.... section 25 of Indian Companies Act and in view of the amended provisions of Section 2(15) and as BMTC is run on commercial basis like any other private transporter, the registration granted under section 12A is rightly been cancelled? (5) Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal was right in following the judgment of Hon'ble High Court in the case of the KIADB wherein it is held that the first proviso to section 2(15), which was introduced by Finance Act, 2008 w.e.f. 01.04.2009, cannot be invoked by the registering authority for the purpose of cancellation of registration under section 12AA(3), even if the assessee is found to be carrying on of any activity in the nature of trade, co....
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....rity would suo moto assume the power of review of the registration granted? (9) Whether, on the facts and in the circumstances of the case, the Tribunal was right in following the judgment of Hon'ble High Court in the case of the KIADB wherein the Hon'ble High Court in the case of the KIADB wherein the Hon'ble High Court was not correct in law in holding that cancellation of registration by the registering authority is not permitted without appreciation the fact that by virtue of the amended provisions of section 2(15), the activities of the assessee cannot be considered as charitable in nature and the aggregate value of the receipts from the activities of the assessee has exceeded the threshold limit fixed thereof?" ....